Tower Semiconductor Reports Second Quarter 2021 Record Revenues;

Tower Semiconductor Reports Second Quarter 2021 Record Revenues; Guides Third Quarter Further Strong Revenue Growth

TOWER SEMICONDUCTOR LTD. AND SUBSIDIARIES
CONSOLIDATED SOURCES AND USES REPORT (UNAUDITED)
(dollars in thousands)


			Three months ended
			June 30,		March 31,		June 30,
			2021		2021		2020

CASH AND CASH EQUIVALENTS - BEGINNING OF PERIOD		$	215,581	$	211,683	$	251,348

	Net cash provided by operating activities		93,250		87,413		66,603
	Investments in property and equipment, net		(56,184)		(49,415)		(62,537)
	Exercise of options		--		364		1,127
	Debt repaid, net		(19,769)		(29,375)		(5,000)
	Effect of Japanese Yen exchange rate change over cash balance		(68)		(3,478)		682
	Investments in short-term deposits, marketable securities and other assets, net		(17,055)		(1,611)		6,570

CASH AND CASH EQUIVALENTS - END OF PERIOD		$	215,755	$	215,581	$	258,793



			Six months ended
			June 30,
			2021		2020

CASH AND CASH EQUIVALENTS - BEGINNING OF PERIOD		$	211,683	$	355,561

	Net cash provided by operating activities		180,663		134,939
	Investments in property and equipment, net		(105,599)		(125,444)
	Exercise of options		364		1,214
	Debt repaid, net		(49,144)		(29,197)
	Effect of Japanese Yen exchange rate change over cash balance		(3,546)		506
	Investments in short-term deposits, marketable securities and other assets, net		(18,666)		(78,786)

CASH AND CASH EQUIVALENTS - END OF PERIOD		$	215,755	$	258,793

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